Allred Capital Management LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,672 shares of the network equipment provider’s stock after selling 1,107 shares during the quarter. Allred Capital Management LLC’s holdings in Cisco Systems were worth $696,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CSCO. Hoey Investments Inc. purchased a new position in shares of Cisco Systems in the 2nd quarter worth $26,000. FNY Investment Advisers LLC grew its stake in shares of Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 799 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at about $38,000. Larson Financial Group LLC grew its stake in shares of Cisco Systems by 61.1% during the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after acquiring an additional 356 shares in the last quarter. Finally, Ovata Capital Management Ltd acquired a new stake in shares of Cisco Systems during the second quarter valued at about $44,000. 71.28% of the stock is currently owned by institutional investors.
In related news, CAO Prat Bhatt sold 2,873 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $42.11, for a total transaction of $120,982.03. Following the sale, the chief accounting officer now owns 82,006 shares of the company’s stock, valued at $3,453,272.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total value of $1,890,450.00. In the last ninety days, insiders have sold 60,166 shares of company stock worth $2,528,248. Corporate insiders own 0.03% of the company’s stock.
A number of research firms recently commented on CSCO. Bank of America decreased their price target on Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Barclays downgraded Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Credit Suisse Group lifted their price target on Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Monday, August 10th. Finally, BidaskClub downgraded Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $47.45.
CSCO opened at $40.16 on Friday. The business’s 50 day moving average is $39.95 and its 200-day moving average is $43.30. The stock has a market cap of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $50.28.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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